Update:
Livingston's Angelo Massone claims he is willing to plough another £300,000 into the club, but it is unlikely to prevent the onset of administration.
Massone says he is willing to step aside as chairman in favour of a "democratic board" and has paid an outstanding electricity bill.
But West Lothian Council says it is too late to stop the legal process it began two weeks ago to recover rent arrears.
The Court of Session could appoint an administrator by the end of this week.
"The club was given a deadline of 30 June six months ago and we took the matter to court two weeks ago," said a council spokesman.
"It is now out of our hands and up to the Court of Session whether it appoints an administrator or liquidator as it deems necessary."
The council is owed more than £280,000 owed for the hire of Almondvale Stadium, but Massone, who leads the Italian-based consortium that took control of the club last summer, has continually insisted that he could negotiate a compromise.
Angelo Massone is also willing to step down as chairman - if this is indeed the best way forward for the club - and move aside for a democratic board to take his place and a statement on the club's official website said on Wednesday: "We are continuing tirelessly to do everything we possibly can to save the club.
"A decision was made by the chairman, Angelo Massone, to engage the services of a professional, very well-respected top UK firm of advisors, who have previous experience with senior football clubs, to act on behalf of Livingston FC.
"They have been asked to pay particular attention to communications with West Lothian Council and to all creditors of the club.
"Acting as a third party, they will discuss payment plan proposals with West Lothian Council to cover all outstanding debts owed by Livingston Football Club."
However, the council insists that, as yet, no contact has been made by the club or their representatives.
Massone had held discussions with former Dumbarton owner Neil Rankine and former Cowdenbeath chairman Gordon McDougall about possible investments in the club, but the club statement stressed that no other parties have come forward with an alternative proposal.
"Angelo Massone is willing to invest another £300,000," said the club statement, which again appealed to fans to come to the club's aid.
"He is also willing to step down as chairman - if this is indeed the best way forward for the club - and move aside for a democratic board to take his place.
David Hay was unavailable for comment on reports he had resigned
"In order to move forward in a positive way, we need your support, and we need it now. We require funds on the table. We need West Lothian Council to accept our payment plan proposals.
"To assist with our internal cash flow, we urge you, the supporters, to come forward and show your desire, need and your right as a member of the community, to have senior football in West Lothian.
"We are doing all we can to save the club. In return, we need you to make your commitment to save the club.
"We urge you to buy your season tickets immediately and to make a donation to the club if you can."
Saturday's pre-season friendly against Falkirk had to be played behind closed doors because the club was denied a safety certificate from West Lothian Police, but the club was hopeful of avoiding a similar problem for Monday's visit by Plymouth Argyle.
"The club reached an agreement with Scottish Power today with regards to outstanding monies, resulting in the company agreeing to reconnect the mains supply at Almondvale Stadium within 24 hours of promised funds being received from Livingston FC," said a statement.
"These funds will be transferred immediately, with the expectation that the process to reconnect the supply will begin tomorrow morning at the latest.
"As a result, it is hoped that West Lothian Council will issue a safety certificate for Almondvale Stadium by Friday so that Monday night's game can go ahead.
"In the event of the safety certificate not being issued on time, the club have begun taking steps to make sure the game will go ahead at an alternative venue in West Lothian."
Meanwhile, former manager David Hay was unavailable for comment following reports that he had resigned as an advisor to head coach John Murphy.